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Is $3000 the Next Stop for Gold? Double Top Formation in Play!Is $3000 the Next Stop for Gold? Double Top Formation in Play! Gold (XAU/USD) is showing signs of a potential bearish reversal as it forms a Double Top pattern on the daily chart. After hitting an all-time high near $3,500, the metal has entered a sharp correction phase and is now hovering dangerously close to key psychological support at $3,200. Technical Analysis Breakdown: A clear Double Top pattern is forming on the Daily (D1) chart, with two peaks near the same resistance level — a classical bearish signal indicating bullish exhaustion. If today’s daily candle closes below the $3,200 level, we could see a rapid decline toward $3,000 in the short to medium term. The neckline for this pattern aligns with the critical support zone between 3196–3200, which is the key area to monitor for potential breakdown confirmation. What’s the Smart Money Doing? Investors are currently pulling out of gold and rotating into higher-risk assets like equities and cryptocurrencies, looking for higher yields and growth potential. This shift in investment suggests that the current sell-off might not just be a technical correction, but also a sign of changing macro sentiment — particularly if the Fed continues with a hawkish stance and delays rate cuts. Suggested Trade Scenarios: 🔻 If Daily Close is Below $3,200: High probability sell setup based on the Double Top pattern Potential downside targets: 3120 → 3050 → 3000 🔺 If Price Holds Above $3,200 and Bounces: Watch for a retracement to 3250–3278 for potential reversal signals Short-term BUY scalp towards 3300–3320 with a tight SL below 3190 What to Watch This Week: Keep an eye on key US economic data, including CPI, PPI, and a Fed Chair speech, which could cause significant volatility. The market is highly reactive right now — avoid emotional trades and wait for clear confirmation from the charts. Risk management is essential, especially during these uncertain times. Final Thoughts: The Double Top pattern on Gold is becoming a significant technical signal for a potential trend reversal. A confirmed break below $3,200 could open the door for a deeper correction toward $3,000. 📣 Stay connected with AD for more real-time updates, technical insights, and trading setups during every market session.
OANDA:XAUUSDShort
by MMFlowTrading
GOLD Will Explode! BUY! My dear followers, This is my opinion on the GOLD next move: The asset is approaching an important pivot point 3189.8 Bias - Bullish Safe Stop Loss - 3179.7 Technical Indicators: Supper Trend generates a clear long signal while Pivot Point HL is currently determining the overall Bullish trend of the market. Goal - 3207.3 About Used Indicators: For more efficient signals, super-trend is used in combination with other indicators like Pivot Points. Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis. ——————————— WISH YOU ALL LUCK
TRADENATION:XAUUSDLong
by AnabelSignals
2
HelenP. I Gold can decline to trend line and then start to growHi folks today I'm prepared for you Gold analytics. If we look at the chart, we can see how the price after several failed attempts holds in a support zone. The structure of this correction has formed beneath the previously broken trend line, and the price is now approaching it from above. What’s important is that buyers previously stepped in around this level, forming a bounce that allowed the market to reach toward the resistance zone near 3350. This area still remains unbroken, making it a magnet for future bullish targets. Currently, price action shows signs of local weakness, but the broader context favors a potential rebound. The confluence between the horizontal support zone and the descending trend line adds extra technical weight to this level. If price can stabilize here, I expect a retest of 3205, and a potential breakout above it could open the way toward my goal at 3260. This scenario assumes continued respect of the trend line as dynamic support. A clean bounce from it would signal renewed bullish interest, especially if backed by momentum on lower timeframes. If you like my analytics you may support me with your like/comment ❤️
THINKMARKETS:XAUUSDLong
by FirstNameHelen
5
Gold price plummeted below 3200, how should gold be deployed?🗞News side: 1. The rise in U.S. stocks is worrisome, and the risk of backlash is growing. 2. Pay attention to initial unemployment claims data 📈Technical aspects: The US gold price fell below the key support of 3200. At present, the gold shorts continue to exert their strength and are expected to further test the support of 3170-3160, or even the previous key point of 3150. Before the market trend becomes clear, it is not recommended for brothers to enter the market at will. If the gold price successfully touches the support area below and obtains strong support, then enter the market to do more. If you agree with this view, or have a better idea, please leave a message in the comment area. I look forward to hearing different voices. OANDA:XAUUSD FX:XAUUSD TVC:GOLD FXOPEN:XAUUSD FOREXCOM:XAUUSD
OANDA:XAUUSDLong
by AllenBoswell
1
XAUUSD Gold Possible Move 14.05.2025Market Structure: Gold was previously trading within an ascending channel but has broken below the channel, indicating possible bearish momentum. Price is currently hovering around the 3,234–3,238 retest zone. Key Levels to Watch: Channel Re-entry Zone: 3,235 – 3,238 Resistance Above: 3,258 and 3,278 (next major target) Support Below: 3,207 (recent low); break below opens up 3,190 and 3,175 zones Scenarios: 🔹 Bullish Scenario: Entry Trigger: M30 or H1 candle closes inside the channel above 3,238 Target 1: 3,258 Target 2: 3,278 Invalidation: M30/H1 closes back below 3,235 after re-entry 🔹 Bearish Scenario: Entry Trigger: Price fails to reclaim 3,235–3,238 zone and forms rejection wicks / bearish engulfing Target 1: 3,207 Target 2: 3,190–3,175 (if 3,207 fails) Invalidation: Strong bullish candle closes above 3,238 with follow-through 🕒 Trading Tip: Wait for confirmation via M30/H1 candle closes – do not jump in on first wick. Patience pays off in breakout-retest situations. Kindly follow, comment and support.
OANDA:XAUUSD
by QuinnReed_Charts
3
Gold Faces Strong Sell-Off: Is a Reversal on the Horizon? Gold Faces Strong Sell-Off After Initial Bounce – Is a Reversal Looming? Gold opened the day with a slight uptick, only to be quickly slammed down, reflecting the current weakness in buying power. The market is reacting to news in flashes, quickly reversing direction — slow on the way up, but fast on the way down. This is the perfect reflection of a market losing confidence in any recovery trend. 🧐 Is This a Sign That Gold Is Heading Towards a Strong Reversal Zone? 📌 Support Zones to Monitor: 3222 – 3220: Short-term cushion. If this fails, expect further downward pressure. 3206 (M30): Next level of defense where technical reactions may occur. ⏳ Caution: Early European session tends to show strong volatility. If no clear signs of a bounce, be cautious of sudden sharp drops. As for the trade negotiations, the developments around tariffs have been much more positive recently. Most news points toward further downside pressure on Gold, and it seems to be staying in the downward price channel. The price zones are not much different from yesterday’s levels, so I’ll slightly adjust my entries for today. Watch the Resistance Levels: They are key for shorting opportunities. The BUY setup still seems far off; it’s hard to pick a good entry with resistance zones appearing everywhere right now. Don't rush into BUY positions just yet! 📊 Key Resistance Levels: 3244 – 3262 – 3278 – 3290 – 3308 – 3330 📊 Key Support Levels: 3216 – 3206 – 3194 – 3170 – 3158 🎯 Scalping BUY Zones: BUY SCALP: 3196 – 3194 SL: 3190 TP: 3200 – 3204 – 3208 – 3212 – 3216 – 3220 BUY ZONE: 3158 – 3156 SL: 3152 TP: 3162 – 3166 – 3170 – 3174 – 3178 – 3182 – 3190 🎯 Scalping SELL Zones: SELL SCALP: 3257 – 3259 SL: 3263 TP: 3253 – 3250 – 3246 – 3242 – 3238 – 3235 – 3230 – 3220 SELL ZONE: 3278 – 3280 SL: 3284 TP: 3274 – 3270 – 3266 – 3262 – 3258 – 3254 – 3250 – 3240 – 3230 🔎 Key Insights: The market is moving in a tight range, but gold continues to hold below significant resistance. As the geopolitical situation stabilizes and tariff talks improve, any sudden price reversals will be important to monitor. The FOMC meeting and global developments will play key roles in shaping the future trend for gold. 💡 Conclusion: Gold is facing a strong sell-off after testing key resistance. Focus on shorting at key resistance zones and be cautious with any buys until a clearer upward trend forms. Stay disciplined, watch the support levels carefully, and manage your trades well!
OANDA:XAUUSDShort
by MMFlowTrading
Gold Selloff Continues as US–China 90-Day Deal Adds PressureGold did not respond well to the new 90-day deal between China and the U.S. On top of the India–Pakistan ceasefire, starting Ukraine–Russia ceasefire negotiations, Hamas–U.S. talks, and nuclear discussions with Iran, several developments are reducing global risk and weakening safe haven demand. Many fundamental factors are starting to turn against gold. One of the key signs is the heavy profit-taking seen in the "managed money" positions in the COT report in the last several weeks. These developments are now starting to show in the price action. The "weak double top" pattern, which is one of gold’s go-to reversal signals at major tops, gave the first warning. Since then, local support levels have been falling one by one. Gold is now testing the 3,200 level, which is expected to act as support. However, if this level breaks, the next target could be in the 3,145–3,170 range. The main medium-term target for a deeper correction remains around 3,000. For any strong upward reaction, bulls should watch the 3,270–3,290 zone. If gold bounces from 3,200, this area could offer strong resistance and potentially cap further upside.
OANDA:XAUUSD
by ftdsystem
XAUUSD H4 Outlook – Monday, May 12, 2025Short-Term Bias: Bullish retracement toward premium zones Structure: CHoCH confirmed at 3284 → forming potential bullish leg inside retracement 🔍 Recent Price Action (H4 Insight): Clear CHoCH on H4 above 3292 → short-term structure flipped bullish. Last impulsive leg pushed price into the 3330–3345 zone before rejecting slightly — signs of near-term resistance. EMA5 and EMA21 are crossing upward, with price trying to retest EMA21 for a bounce. Next H4 candle closure is critical — either holds 3290 for continuation or re-tests deeper zone. 📌 Key H4 Zones Zone / Level Description 3380–3395 🔺 H4 FVG + OB zone – major near-term premium resistance (also Daily level) 3340–3345 🔁 H4 internal resistance – Friday top, low-volume gap area 3314–3318 🔁 Micro H4 imbalance – intraday fill zone 3284–3292 ✅ H4 CHoCH + OB – current bullish base, critical to hold 3250–3265 🔵 Deep demand – final intraday bounce zone before HTF demand These levels will be your H4 battle zones — where price is likely to bounce, reverse, or accelerate depending on confirmation. 🔁 Potential Flow on Monday: Bullish scenario: If price holds 3284–3292 → intraday targets = 3318 → 3340 → 3380. Clean structure = higher low + EMA support confluence. Bearish scenario: If price loses 3284 → could test 3250–3265. Only below this would invalidate current H4 bullish flow. ⚠️ Confluence Check: EMAs: EMA5 crossing up through EMA21 → short-term bullish momentum building Liquidity: Buy-side above 3345 → price may attempt sweep if supported FVGs: Still unfilled gaps between 3314 and 3380 → magnet zones for bullish flow CHoCH: Valid on 3284 → first HL attempt happening now 🧠 H4 Summary (for May 12): Type Zone Reaction Potential Resistance 3380–3395 Strong rejection possible 3340–3345 May slow price if volume weak Support 3284–3292 Critical bullish structure zone 3250–3265 Breaker block zone (last bounce before HTF demand) 💬 Final Word to the Community: Gold may have paused its moon mission at 3500, but the engines are refueling. Monday’s battle will be all about 3284 — hold it, and bulls might just take flight toward 3380. Lose it, and we buckle in for a deeper dip. 🟡 Whether you’re team buy-the-dip or wait-for-the-fade… stay sharp, stay patient, and always follow structure. Like what you see? Drop a comment, tag a gold friend, and follow GoldFxMinds to never miss the real flow. 🧠⚡
VANTAGE:XAUUSD
by GoldFxMinds
2
XAU/USD - Trendline Breakout (14.05.2025)The XAU/USD pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent Formation of a Breakout Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours. Possible Long Trade: Entry: Consider Entering A Long Position around Trendline Of The Pattern. Target Levels: 1st Resistance – 3321 2nd Resistance – 3364 🎁 Please hit the like button and 🎁 Leave a comment to support for My Post ! Your likes and comments are incredibly motivating and will encourage me to share more analysis with you. Best Regards, KABHI_TA_TRADING Thank you.
FX:XAUUSDLong
by KABHI_TA_TRADING
48
SPY/QQQ Plan Your Trade For 5-14 : Carryover PatternToday's pattern suggests the SPY/QQQ may attempt to stay somewhat elevated. The Carryover pattern is essentially a pattern saying, "expect more of the same type of trending today". I would suggest the SPY/QQQ are somewhat extended and may pause a bit today. I shared a chart I created back on March 23, 2025 that I found very interesting - showing a big rally in late-April/early-May. If that chart continues to be accurate - it suggests the markets may attempt a reversion move to the downside over the next 20-30+ days. Time will tell if my predictions play out accurately or not. Gold is moving into new BEARISH trending on the GOLD Cycle Patterns. After an extended consolidation phase in metals, this shift in the trend models was going to happen at some point. Now, we need to see if Gold/Silver can hold above recent support or not. Even though I believe Gold/Silver are poised for another big rally, the disruptions related to the global economy and tariffs seems to have taken some of wind out of the sails of the metals rally (for now). Bitcoin continues to lead the SPY/QQQ. Keep an eye on what BTCUSD does over the next 7-15+ days as I believe it will lead the US markets in trending (still). Get some. #trading #research #investing #tradingalgos #tradingsignals #cycles #fibonacci #elliotwave #modelingsystems #stocks #bitcoin #btcusd #cryptos #spy #gold #nq #investing #trading #spytrading #spymarket #tradingmarket #stockmarket #silver
AMEX:SPYLong
by BradMatheny
2
Is gold about to break $3200 support?Gold has been trending lower amid growing risk appetite with stocks surging higher. With no big bearish catalyst in sight for stocks, the market mood is optimistic and that means the pressure on gold is growing for a drop. The big macro driver has been a thaw in US-China trade tensions. With tariff rollbacks on both sides and negotiations showing real progress, investors are getting more comfortable. What’s more, Tuesday’s softer-than-expected US inflation print added fuel to the fire — calming nerves that Trump's trade tariffs would trigger a fresh inflation wave. So, for now, sellers are in control of defensive plays like gold and yen, while the tech sector, especially chipmakers, is the main beneficiary. Gold could potentially break THIS key support area around $3200 after making lower highs and lower lows on the intra-day charts. While the long-term trend is still bullish, I wouldn't be surprised if the bearish momentum continued for a few more days. The first downside target is at 3136, followed by 3073 and then - the big level - 3,000. Could we see a drop to these levels in the coming days? By Fawad Razaqzada, market analyst with FOREX.com
FOREXCOM:XAUUSDShort
by FOREXcom
Focus on 3200 for some support during the day🗞News side: 1. Sino-US tariffs have been eased 2. U.S. trade progress and focus on geopolitical risks 📈Technical aspects: Yesterday we gave a long trading strategy and have been waiting to see whether the gold price can touch our target point of 3270. However, gold did not fluctuate much after the opening of the Asian market, so I chose to manually close the position near 3256. To be honest, the market did not fluctuate much today whether it was up or down, and it is still consolidating within our box range of 3220-3265. Although gold is generally weak, it has a higher probability of strengthening during the day, and the early gap may be ready for market recovery. At present, the gold price has tested the 3240 line many times. If it cannot stand above 3240, it may test the strong support of 3200 again. If there is no breakthrough below the strong 3200 support, the market may repeat If you agree with this view, or have a better idea, please leave a message in the comment area. I look forward to hearing different voices. FOREXCOM:XAUUSD FXOPEN:XAUUSD TVC:GOLD FX:XAUUSD OANDA:XAUUSD
OANDA:XAUUSDShort
by AllenBoswell
XAUUSD: Market Analysis and Strategies Today, May 14Technical analysis of gold Daily chart resistance 3284, support below 3200-3167 Four-hour chart resistance 3270/3284, support below 3200 One-hour chart resistance 3250, support below 3200 Analysis of gold news: On Tuesday (May 13), the US Consumer Price Index (CPI) data for April was released, showing that inflationary pressures have eased, providing a complex signal to the market. This mild data that was lower than expected, coupled with the uncertainty of recent tariff policies, triggered an immediate market reaction and reshaped the Fed's expectations of rate cuts. Although the data tended to be dovish, the market reaction was not completely one-sided, showing a game of caution and optimism. Because bargain hunting occurred after prices hit a one-week low. In the previous trading day, due to the tariff truce agreement reached between China and the United States, market risk appetite increased, weakening the safe-haven appeal of gold, and gold prices were therefore under pressure. Yesterday, gold hit a high point before the data was released and then fell sharply, which also showed the repetitiveness of market sentiment. However, in the future, some negative factors have gradually landed, and the Fed's interest rate cut will be put on the agenda again in the medium term. The medium-term favorable pattern for gold has not changed, so gold is still bullish in the medium and long term, but there may be a decline in the short term. Gold operation suggestions: From the current trend analysis, the lower support focuses on the 3200 integer support, and the upper pressure focuses on the one-hour chart resistance 3250 and the four-hour chart resistance 3284. The short-term long and short strength dividing line is 3284. SELL: 3283near SL: 3288 SELL: 3270near SL: 3275
OANDA:XAUUSDShort
by ActuaryJ
Best GOLD XAUUSD Psychological Levels Indicator on TradingView There is one free technical indicator that will show you every significant psychological level on Gold XAUUSD chart. It is available on TradingView and it is very easy to set. Discover the best psychological support and resistance indicator for Gold trading , its settings and useful tips. First, let's discuss the significance of psychological levels in GOLD XAUUSD analysis and trading. The classic way of the search of significant supports and resistance is based on the analysis of a historic price action. However, while Gold constantly sets new historic highs such a method does not work, because there are no historic resistances to rely on. In such a situation, the only reliable strategy to find potentially strong resistances is to analyze psychological levels. Psychological levels are the round numbers based price levels. Because of the common human psychological biases, these levels attract the interest of the market participants and the prices tend to react to them. A great example of a psychological level in Gold trading is 3000 level. It served as a resistance first and after a breakout turned into an important support. And I found a free technical indicator that plots all the significant psychological levels efficiently. One more thing to note is that I strictly recommend searching for psychological levels on a daily time frame, because it provides the most relevant perspective. To use this indicator, search "round" in indicators wind ow. It is called "Round numbers above and below". Click on that and it will start working immediately. You can see that the indicator plotted 3 significant psychological resistances above current prices and 3 supports below on Gold chat. In the settings of the indicator, you can change the number of levels to identify and change the style of the horizontal lines. Examine the reaction of the price to psychological supports that the indicator shows. These levels may remain significant in futures and applied for pullback/breakout trading. With a crazy bullish rally that we contemplate on Gold this year, psychological levels will be the most reliable technical analysis tools for the identification of future bearish reversals and corrections. This free technical indicator on TradingView will help you in search of the strongest ones. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDEducation
by VasilyTrader
2
GOLD (XAUUSD): Detailed Technical Outlook & Trading Plan As we discussed on the yesterday's live stream, Gold is currently in a consolidation stage. The price is stuck within a wide horizontal channel on a daily and we see a test of its support at the moment. With the absence of high impact news in the economic calendar, I assume that a consolidation will continue and there is a high chance to see a pullback. Your confirmation signal will be a bullish breakout and a 4H candle close above 3271 - upper boundary of the intraday horizontal range. There will be a strong possibility of a rise to at least to 3320 level. Alternatively, a bearish violation of a support of the range on a daily and a daily candle close below that may trigger a further decline. ❤️Please, support my work with like, thank you!❤️ I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
TRADENATION:XAUUSDLong
by VasilyTrader
3
Gold Strong Crash, Final Warning —Moving Below $2,000XAUUSD (Gold) will move below $3,000 with very strong bearish momentum. You cannot say that you were not warned. It will continue lower to hit a target around $2,750 after $3,000 fails as support. After the $2,750 target hits, I will look again at the chart and see what it has to say. Below $3,000 is ultra high probability, guaranteed basically. $2,750 is also very high probability that it will hit. Will it continue lower? At this point it is hard to tell because I don't know Gold's long-term dynamics in a correction, but it isn't looking pretty. If current geopolitical conditions is what's making Gold bearish, then XAUUSD is set for a long-term bear market because everything will continue in the same vein. That is only if that's the reason why Gold is bearish. » Looking at the monthly chart, it is a disaster. Gold is set to move below $2,000 in the coming months. Do you agree? Disagree? Leave a comment. Thank you for reading. (Remember to follow, and boost...) Namaste.
OANDA:XAUUSDShort
by MasterAnanda
1
GC - Gold digging for a possible ShortAfter reaching WL2, we saw a sharp pullback followed by an immediate double top. Price failed to reach the centerline of the yellow fork, instead stalling at the 1/4 line. Then came the break of the lower median line (L-MLH), a pullback to the white WL1—then the drop began. If this market can’t push to new highs, we’ll likely fall back into the median line set. A pullback to the upper median line (U-MLH), as indicated by the red arrows, is a probable scenario. Next stop: the white centerline. I trade tiny. I trade with extremely high risk-reward setups. I’m fine getting stopped out all the time —because I’m hunting huge moves. I don’t chase. No FOMO. It’s how I sleep well, make money from trading and keep my stress level very low.
COMEX:GC1!Short
by Tr8dingN3rd
Bearish drop?The Gold (XAU/USD) has rejected off the pivot and could drop to the 1st support. Pivot: 3,263.17 1st Support: 3,156.30 1st Resistance: 3,287.49 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:XAUUSDShort
by ICmarkets
2
Gold missing inverse relationship with DXYIn the earlier analysis, the expectation is for DXY to trade slightly lower to the round number level of 100. With Gold's inverse relationship with the US Dollar, anticipating further downside for the DXY should mean that we expect to see some upside on XAUUSD. However, the current price action on Gold is still signalling further downside. The good thing is that the price is approaching the support area where the 3200 price level and the 61.8% Fibonacci retracement level align. Look for a reaction in this area, for a possible rebound to the 3320 price level. Alternatively, if the support area is broken, there could be further downside to the 3000 price level.
OANDA:XAUUSD
by JinDao_Tai
1
GOLD is supported short, trend is bearishThe bargain-hunting wave has supported OANDA:XAUUSD in the short term. In addition, weaker-than-expected US CPI in April, cooling expectations for a Fed rate cut, a fall in the US Dollar Index from a one-month high, and geopolitical concerns have all provided bullish momentum for gold. Spot gold was trading in a narrow range in early trading on Wednesday (May 14), currently trading around $3,245/ounce. Inflation data Data from the US Labor Department, a key indicator of Federal Reserve policy, released on Tuesday showed that the CPI rose just 0.2% month-on-month in April, below the expected 0.3%. This mild inflation report is like a tonic, injecting new life into gold prices. This data will not hinder the Fed's interest rate cut, and the market generally expects the Fed to cut interest rates again in September. It is worth noting that while inflationary pressures are not high now, inflation could pick up again in the coming months as the impact of tariffs becomes clear. Such expectations are prompting many investors to turn to gold as an inflation hedge. On the same day on Tuesday, Do Nam Trung once again called on the Federal Reserve to cut interest rates On Tuesday, Trump reiterated his call for the Federal Reserve to cut interest rates, saying that the prices of gasoline, groceries and “almost everything else” are falling. Geopolitics: “Safe Haven Fire” In addition to economic factors, continued tensions in the global geopolitical situation also provide strong support for gold. The possible face-to-face talks between Ukrainian President Zelensky and Russian President Putin are fraught with uncertainty, and despite a temporary ceasefire in the India-Pakistan conflict, the underlying tensions between the two sides have not changed. These uncertainties mean that gold still has the potential to rise in price once market risks suddenly occur. Looking Ahead: Gold’s Challenges Looking ahead, gold faces three key variables: • First, the further progress of the Sino-US trade talks. Although the two sides have reached a 90-day truce, the comprehensive tariff policy remains in effect. • Second, the Federal Reserve's monetary policy direction. A soft performance in inflation data could pave the way for a rate cut. • Finally, global geopolitical risks, especially the developments in the Russia-Ukraine peace talks and the India-Pakistan conflict. There is relatively little economic data on the trading day. US Secretary of State Rubio will attend the informal meeting of NATO foreign ministers from May 14 to 16 to discuss NATO security priorities, including increased defense spending and ending the Russia-Ukraine war. In addition, several Federal Reserve officials will speak, which investors should pay attention to. Technical Outlook Analysis OANDA:XAUUSD On the daily chart, gold is still trading in a narrow range with short-term conditions leaning towards the downside with the main pressure from the EMA21. However, the downside momentum is currently limited by the 0.50% Fibonacci retracement level, which is also the nearest support. If gold is sold below $3,228, it will have the prospect of continuing to decline with the next target around $3,163 in the short term. For gold to resume its uptrend, the necessary condition is that the price action needs to be pushed above the EMA21 and break above the raw price level of 3,300 USD. Although the main trend from the price channel has not been broken yet, the short-term outlook for gold is bearish, and the notable positions will also be listed as follows. Support: 3,228 – 3,200 – 3,163 USD Resistance: 3,245 – 3,292 – 3,300 USD SELL XAUUSD PRICE 3284 - 3282⚡️ ↠↠ Stop Loss 3288 →Take Profit 1 3276 ↨ →Take Profit 2 3370 BUY XAUUSD PRICE 3165 - 3167⚡️ ↠↠ Stop Loss 3161 →Take Profit 1 3173 ↨ →Take Profit 2 3179
OANDA:XAUUSDShort
by Xayah_trading